Finance 71 



ing British subjects the financial assistance that is so 

 wilHngiy given to their German competitors. The United 

 States outside German circles over there are, we believe, 

 waking up to the need of establishing such banks, so it is 

 to be hoped that John Bull will do the same and also 

 encourage the excellent Anglo-Latin-American banks 

 already established to spread out and include new districts 

 in their lists of branches and agencies. Our old friend 

 the Colonial Bank, for one, should get out to Alanaos and 

 F>elem (Para), and also down to Santos and Rio, and have 

 a branch in Petrograd, and agencies at the chief trading 

 centres in Russia, and so be able to participate in the 

 large profits in the Russo-tropical trade that will spring into 

 being when peace gives trade a chance to come into its 

 own again. 



Referring to the United States penetration of Latin 

 America, the West Coast Leader of Lima, Peru, tells us 

 that another factor in the situation is that the approaching 

 opening of the new American bank in Lima (Banco 

 Mercantil Americano) is bound to cut heavily inco the 

 remnants of American and other business which the 

 German bank still retains. 



Returning to the Royal Colonial Institute statement, this 

 claims that British trade has lost ground in Latin America, 

 or to put it in another way, British people do not possess 

 and have not had as much trade as they ought to have 

 done for one main reason, viz., there are too few purely British 

 importing houses in Latin American countries. In Central 

 America, in Mexico, and in the South American countries, 

 the stores are largely in the hands of Germans. These 

 firms, pursuing the national idea, such an idea being 

 practically unknown to British people, always prefer 

 to import from Germany, and they have a definite policy 

 in promoting German trade. This is a laudable object 

 on their part, and British people should take the lesson to 

 heart, have a definite policy also, and always try to "go 

 one better" than their enemies have done. 



Most of the German firms are of mushroom growth. 

 Young men have come out for a small salary of about 

 200 marks, or even less, per month. They were serious, 

 hard-working young fellows, of great adaptability, content 

 with very few pleasures, but by dint of close attention to 

 business able to make themselves valuable to their 

 employers. They are a reliable class, and all credit is due 

 to them from their own country's point of view. In due 

 course, with a little luck coupled with much patience and 



